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~ I Will Not Argue The Obvious ~
I have studied the WaMu / WMIIC / WMI / WMIH-Corp, Related Filings and the Judge Walrath & Judge Collyer "dual tracking" litigation Process' the entire time ...
discussion forums are simply that' ... every day, it becomes more obvious, just who has taken the time to study and research the actual documents' ? ... in lieu of discussion forum twisted nonsense' and the purposeful propaganda being presented' ...
so now, the R-45 attachment doesn't exist ... ? ... That ? is one of the best ones yet' ... good luck' ... this wild "hedge fund" ride may be just a bit to much for some of you' ... so, just sit back in the stands, and watch what happens prior to 2017 years end' ... now that the - SECOND - "Settlement" needed' has been completed' ... (the 1st one was in 03/2012, ... the 2nd one was in 08/2016)
... If' ... Your accounts are in order ? and your profile (contact information) is accurate ? ... everyone should be fine' ...
None of this is about any of us' ... I find the arrogance of such statements amusing' ... This WaMu Process ? is about very, very, large sums of money ... Yes, I'm included' on many levels ...
AZ
~ Johnny, It Is A Shame That I Missed Those ~
I enjoy reading your common sense based' presented thoughts and comments'
... members of the WaMu / WMI-LT propaganda machine is ? and always has been' present ... (dont_b_kruel) ... Right ? ...
WMI, which at the 03/19/2012 Implementation of Plan 7', ... has now transitioned to WMIH-Corp, ... WHICH ALSO OWNS ... 100% of the "Equity Interest" in WMIIC (WMI Investment Corp.)
Everyone needed to wait until the "dual tracking" litigation in D.C. was completed and settled as well' ... thankfully, now done'
With the CIC of WMI's Bank, WMB to JPMC ... So goes the Original WMB Bonds' ... and, as stated on the FDIC's balance sheet, ... accrued interest earned is held' from a point of seizure ...
With the CIC of WMI's Bank, WMB to JPMC now obviously completed, ... The WMB Fixed Income Holdings, should now be in a position to receive the monthly accumulated interest, produced by the Original WMB Noteholder program supporting Trusts' and held by the FDIC' ... JPMC can and should be in a position to address actual ownership of the WMB Bonds and their supporting Trusts' themselves' ...
In My Own Opinion ? ... the Tranche 5, Class 17 WMB Bonds, will receive their accumulated cash, held by the FDIC since the seizure, ... and the continuing cash producing bonds themselves will transition to a JPMC security moving forward' ...
The WMB Fixed Income Holdings, Tranche 5 Class 17, ... Now' being listed as NOT being in default, (able to receive) ... also have an underlying JPMC cusip assignment, as well as a recent' "underlying stock symbol" update' ...
AZ
~ If' J Carreon Told Judge Walrath The Truth ? ~
Then with the recent FDIC's payment of $645 million dollars as an "Administrative Liability" to JPMC' ? ... As is listed in the "Settlement", ... as well as listed on the FDIC's WMB Balance Sheet as of (06/30/2017) ... That payment completes the P&AA "Agreement" between the FDIC and JPMC' ...
Which ALSO means that the CIC (Change In Control) issue of WMI's Banking Sub, ... WMB' ... has now transitioned complete ownership of WMI's bank, WMB, to JPMC' ...
Which ALSO means that the NOL Tax benefit originally aligned with WMI's Bank, WMB is now gone' (I believe J. Carreon told Judge Walrath the Truth' ... J. Carreon simply made sense, with the transfer of ownership of an asset ? so goes any tax benefit of the same asset, WMB's NOL's go away once the Bank transitions ownership to JPMC)
Leaving the Original 12/31/2012 SEC Filed R-45 Attachment ALSO correct' ... which stated WMIH-Corp ALSO had an $8.37 Billion Dollar Capital Loss available to it' at a 35% calculated ratio as well' ...
- $24 Billion X's 35% tax calculation = $8.37 Billion in Capital Loss Tax benefit - (ish')
With the "Settlement" (08/2016) negotiated by the WMB Bank Noteholders' (Tranche 5 Class 17 Bondholders) ... now completed' ... ? ...
Those original (settled) funds calculated should be returning ... Plus other things as well' ...
The Tranche 5, Class 17 WMB Fixed Income Holdings, (WMB Bonds) ... show that they are no longer ... "In Default" ...
AZ
~ Hmm' Just Thinking Out Loud ~
just wondering if' ? ... the volume increases to accommodate a ... WMIH-Corp, ... 1.1072 VWAP ... (Volume Weighted Average Price) ...
These are interesting times, ... in my opinion'
VWAP is calculated by adding up the dollars traded for every transaction (price multiplied by number of shares traded) and then dividing by the total shares traded for the day.
~ Intuitive, You Are Welcome I'm Watching Daily ~
This next "leg" of the process, moving into Tranche 5' and addressing the "Settling" WMB Bank Noteholders (the Tranche 5 Class 17 WMB Bonds) ... opens up the process moving forward for the remaining and the Plan 7 releasing Class Participants' ...
Once the ABS-Cert Trust produced Monthly Interest returns, associated with the Original WMB Noteholder Program' are acknowledged ... ? ... This whole deal blows up to the extreme financial positive ... In My Own Opinion' ...
... WMI, now reorganized into WMIH-Corp, Owns 100% of the "Equity Interest" in WMIIC' ...
AZ
~ Hey, It's The Legal System That Is' Allowed ~
I did not design ... It' ? ... I just took the time to understand ... It' ? ... and then ? apply ... It' ... Knowledge Is Power' as well as financially rewarding if used properly ... Oh and, nor, did I write any of the filings, or' was I ever invited to the Settling (2016) / Mediation (2011) meetings' ...
while you and a few others, were playing around on a discussion forum, ? ... ? ... reading the body language of the people in one of the Court Rooms ? ... and considering the "nuance" of the lunch room ? ... (humorous, & inexperienced,) ... one of your boy's, didn't even understand that the exchange event had occurred', let alone a proper following of the "dual tracking" litigation process going on and continuing in D.C. ... Well beyond and Obviously AFTER Plan 7's reorganization in March of 2012' ...
... I was reading, reading, & then reading more, more of the "dual tracking" process ...
This WaMu / WMIIC / WMI / WMIH-Corp deal is massive' ...
AZ
~ WMI's, Original WMB Bank Bonds, Class 17 Is Next ~
The proper Plan 7 Approved, sequence falls directly in line with;
The FDIC's WMB Balance Sheet (as of 06/30/2017)
The Plan 7 Distribution Matrix (attachment H)
The WMI II (the WMB Action) ... "Settlement" (as of 08'2016)
====================================
So No', No WMB Bond' "Receivership Certificates" are showing having being issued yet by the FDIC as documented' ... however' ... the WMB Fixed Income Securities are now updated to be listed as - NO' - under being in default ...
====================================
The forward movement of, Tranche 5' Class 17, The WMB Notes (WMB Bonds) will PROVE' once and for all the existence of the ABS-Cert (Trust),s ... (the original noteholder program) ...
as well as their interest accumulation', now held since 10/02/2008 ... which as I posted and as is listed on the FDIC site itself, ... Is Not' accounted for until received by the class participant' ... (accumulated interest earned from a seizure, is not accounted for, until received)
====================================
The Tranche 5 Class 17'(s) ... (The WMB Bonds) ... have yet to have released the FDIC' ... as is documented, ... NOT UNTIL RECEIPT OF THEIR DISTRIBUTION ...
(the WMB Bond releases were brought forward from Plan 6)
AZ
~ Mufa, Actually No' In Regards To Their Individual Class Designation ~
However, ... As The Settlement achieved Result, and Approved Plan of Reorganization (Plan 7) ... mandated, ... ALL Class' Participants needed to submit their Release' (41.6) ... in order to be included in the Reorganization ...
No Release submitted ? No Participation ...
Tranche 5' Class 17 (the WMB Bonds) had their releases brought forward from Plan 6'
At the final Settled Result and Implementation of Plan 7' ... A Share = A Share
AZ
~ Oberthal, I'm doing my best ~
I just don't know when ... Here is what I do know' ... This whole WaMu / WMIIC / WMI / WMIH-Corp ... ? ... is massive' ... and we' ? were not originally expected, or still expected to be here ...
I'm a nobody' just along for this amazing ride ...
AZ
~ The Class 17' Releases Are Still Needed ~
... "Receivership Certificates" are to be issued by the FDIC, to the Tranche 5 Class 17 Bondholders' ...
The source ?, Is the FDIC Claims Department Letter, written to the DLA Piper Attorney Group, as submitted in support of Judge Collyer's 06/17/2015 Opinion' ... as an attachment ...
... Class 17' will have deemed to have released' upon receipt of their distribution' ...
The FDIC needs these releases as well, ... (as announced, The Settling Steering Committee, is the WMB Bank Noteholders, ... Tranche 5' Class 17) ...
AZ
~ Yeppers' ... Finally Right ? ~
These continuously involved institutions won't wait one millisecond longer than legally necesary ...
It's all good, ... and' ... IMO, it was all expected to take place back in 2015' ... however, here we all are just the same' ...
Yes, WMI(s) WMI Investment Corp, ... is one thing, ...
The WMB Notes, and The WMB Noteholder Program is another ...
The WMI Preferred Offering is yet another ...
etc, etc, etc, ... Yes, There is quite a lot' ...
AZ
~ Retained Earnings ? As WMI Reported ? ~
After some 40 months ... From October 2, 2008 (nunc-pro-tunc) to the end of Jan 2012' as reported in the Feb 2012' MOR, ... reported some $20 billion (ish), ... or, roughly $500 million ABS-Cert Trust Generated Cash' per month ... WMI owns 100% of the Equity Interest in WMI Investment Corp. ...
Now, ... ? ... $500,000,000.00 ABS-Cert Trust generated monthly cash ... ? ... from October 2, 2008 (nunc-pro-tunc) ... to September of 2017' ... ? ...
With WMIH-Corp now being the reorganized WMI ? ... That' should work out to a nice sum' ...
It is a very good thing that all of the litigation is Settled, and the individual Settlement requirements taken care of' ...
AZ
~ Again, Correct ~
The WMI-LT or as I refer to ... It' ... as a purposeful "Propaganda Machine", is only able to administer what a QSR reveals' ...
The WMI-LT is nothing more than a mere "tool" which can be utilized as a Pass-Through mechanism for anything financially relevant' ...
~ NO, NO I WILL NEVER BE ISSUED AN LTI ~ (an LTI = an actual Interest in the Liquidating Trust) ... Nope' and NO BIG DEAL In My Opinion, ...
AZ
~ Matt, That Is 100% Correct ~
"Retained Assets" Are Just Exactly That' ... They Are "Assets" that have been able to be, and allowed to be, ... retained' ... assets that were legally able to be "Retained" by the Plan 7 Approved, reorganizing corporation(s) ... WMIIC and WMI ...
Only ... "certain of the Debtors' assets were transferred" ... to the WMI-LT ... NOT EVERYTHING' ...
On March 19, 2012 (the "Effective Date"), the Plan became effective and certain of the Debtors' assets were transferred to a newly formed Delaware liquidating trust (the "WMI Liquidating Trust") as further described in the Plan. To view a copy of the Form 8-K that was filed by WMI (which changed its name to WMI Holdings Corp. on the Effective Date) with the SEC on the Effective Date, please click here.
~ Johnny (B), Yes You Are' ~
One of the signing "Parties" to the actual 08/2016' now announced, "The Settlement" actually was WMMSC' ... , so Yes' You are viewing this properly ...
As I said earlier, I'm currently watching the FDIC & WMIH-Corp, as well as my own holdings, for signs of positive forward movement', to finally be recognized ...
currently either by the document stated, "Receivership Certificates" to be, issued by the FDIC, to the, WMB Fixed Income Holdings' (Tranche 5 Class 17 Bond Holders), in an effort to secure their original "Releases" ... or, ... by the new company (WMIH-Corp) moving' ahead of any defined announcements' ... (this many hedge funds ?, are unable to keep secrets)
... also, as well as with JPMC's "Administrative Liability" (the $645 million) now paid, ... as the 08/2016 documented "Settlement" states, That payment / agreement now also concludes the P&AA between JPMC and the FDIC regarding WMB ... (WMI's property & the CIC' Issue - Change In Control -)
In My Own Opinion, ... If one takes into consideration the Original WMB Noteholder Program, (as revealed by WMI the parent corp, in SEC Filings pre-seizure) ... as well as the Original WMI Preferred Offering, (adding in the TPS Reit Series, at the 09/26/2008' "Exchange Event") ... The Supporting Trusts (ABS-Certs) are simply magnificent in their Original Design, Originally designed as, ... Interest Earning Cash Generating Machines ... then ? ... simply refer to what the FDIC reveals in its own "WMB Balance Sheet" ...
(note that interest on these assets is not accrued after failure but is recognized when received);
~ Yes, That Is Where I'm At As Well ~
I am also watching the FDIC's Balance Sheet As Well, ... (the last update as of 06/30/2017)
* The "Administrative Liability" ... ($645 million) ... appears to have been secured and taken place ...
* The "Secured Deposit Base" ... (FDIC Insured Customer Deposits) ... shows a 0'% of responsibility left to be paid ...
* The "Unsecured Deposit Base" ... (Customer Deposits, beyond the FDIC Insurance Coverage Limits) ... shows a 0'% of responsibility left to be paid ...
* WMB Senior & Subordinated Debt Claims, are next (Tranche 5, Class 17)
* Then, as is listed, ... is the DB ($3 billion ish) Allowed general unsecured claim ... "Yet To Be Determined" ... (Tranche 5, Class 18) ...
* (Employee Claims issues, are Tranche 5' Class 18 as well)
AZ
~ Johnny' ... Wow', That Means A Lot Coming From You ~
Thank You' for that acknowledgement ... I have always followed You' as well ...
Once we' survived the Plan 6 failure in 2011' ... I knew we' would ultimately be financially OK' ... once I was able to secure my Plan 7 participation' by releasing everything' ... (19's, 21's & 22's) ... Yep, I knew this was a money maker and it was game on for me' ... after averaging out my Holdings with new company buys at 50 cents (ish) in 2012' ... I then I began loading up the turnip truck with WMB Fixed Income Securities between Jan 2013 & June 2014 purchased on the secondary market' ... They were NOT easy to acquire' ...
S. Landefeld initially opened up my curiousity' ... he then lead me to T. Lehmann, and the WaMu financial generating machines being produced, known as ABS-Certs, (Trusts) ... again, being produced in large numbers out of two locations ... Vernon Hills, IL. and Seattle, WA ...
Then ? ... I acquired a powerful letter written by OC in 2009, and back tracked it to, ... EC & MW' ... along with the D.C. dual track' ... The Euro WMB Noteholders were out for a bucket of ... debtor blood ... and weren't going to put up with any SEC, OTS, FDIC, or WaMu debtor attempted BS' ... these 120 accredited investors (119 with 1 holdout) ... were and still are, the real deal' ...
Rosen tried to get these Euro Noteholders to accept a Class 12 general unsecured designation, ... and the WMB Noteholders responded to the debtor in legal fashion telling the debtor, ... "To Go Pound Sand" ... They' then Forced' ... proper and legal subordination' ... ALL Creditor classes were to be addressed FIRST, prior to moving forward' ... as now revealed as Plan 7's attachment H' ... Tranche 1 through Tranche 6 ...
WaMu was a multiple level financial leviathan back in 2007 & 2008' ... Today ? ... The accumulated interest returns, generated by the numerous (hundreds) Trusts' ... should be in the stratosphere ...
Thanks Again' ...
AZ
~ NiceSeaShell, You Are Welcome Along With, ~
This entire WaMu / WMB / WMIIC / WMI / WMIH-Corp, process has been unlike any other investment that I have been involved in' ... and it also has taken the most work' ...
I decided in mid to latter 2012, to begin publicaly posting the ongoing study, research, and due diligence associated with this "Dual Tracking" Litigation process' ... in an honest effort to help everyone'
Understanding ones ownership and The Class Of Origin Issue' ... In My Own Opinion, was and continues to be an important topic' ...
Just Remember, ... The FDIC DOES NOT reveal any security interest generated returns from the date of seizure' ... This FACT is disclosed by the FDIC ...
WaMu's multiple Class of Origin Designated ABS-Certs (Trusts), whether WMIIC, the WMB Noteholder Program, the WMI Preferred Offering, etc., have all continued to perform ... and after 9 years, as well as an assignment of FJR ON A Claim (Not to be included in a Claim) ... will be substantial' ...
AZ
~ Again, My Belief As A Result Of My Own Study ~
Along With My Own Conclusions, lead me to believe that, ...
The Returning and Now Accumulated' WaMu Estate Distribution Returns are SPECIFIED AND DESIGNATED to their Origin Of Class' ...
Tranche 5 Class 17, WMB Bonds, ... Are ABLE TO receive their return from the WMB Issued Trusts that originally supported the WMB Noteholder program ...
Tranche 5 Class 18, Any Allowed' General Unsecured Subordinated Claims - Rule 510(b), ... Are NOT YET Formally Completed ...
Tranche 6 Class 19, P & K Series, ... Are ABLE TO receive their return from the Original WMI Issued Trusts that originally supported the WMI Preferred Program, ALONG WITH' the TPS Reit Series Trusts' that went through their "EXCHANGE EVENT" at 8:00am, on 09/26/2008 mere hours ahead of the TWO Bankruptcy's Filed later the same day ... Which Transitioned Those securities to a WMI' Security ...
Tranche 6 Class 22, WaMu Common (uq) Shares, ... as in ALL Companies, ... Actually OWN the return values of the Original The WMIIC / WMI Estate ...
The 75% / 25% distribution returns, are LIMITED to only a RE-Distribution of what ends up being LEFT OVER In The WMI-Liquidating Trust ...
Tranche 5 Class 17, The WMB Bonds ... Now Having Litigated To A Settled Result, ... Are Next Up ...
These Are My Conclusions' ... and, any form of wishful thinking or emotion doesn't enter into my own study and research process' ...
AZ
~ Sometimes, No Not Exactly ~
This ? This Legal Letter sent out, Is actually much, much, much, better' ... This letter verifies that ... JPMC is just NOW able to legally benefit from the receipt of the servicing fees of the Original Massive WaMu Loan Portfolio, ... as of ... 06/01/2017 ...
AZ
~ Ron, Yes I Agree ~
The (CIC), Change in Control, (P&A, the OTS / FDIC seized WMB to complete its transition to JPMC) ... must now be completed ... here is how I view the associated timeline,
The (to be mailed) Notification Letters Are Prepared and dated to be mailed ... Aug 25, 2017, ...
The Actual Legal Descriptive Document is Actually Dated ... June 01, 2017, ...
The Information is then released to be mailed on or about ... Sept 11, 2017, ...
To begin to be received on ... Sept 13, 2017 and forward ...
Yes, The notices have now been sent' ... JPMC, re: the Original WaMu "serviced" mortgages, ... "SUBSTITUTION OF TRUSTEE AND DEED OF RECONVEYANCE" ...
ADDED; ... IF ... ? ... My timing and sequencing is correct ... ? ... Note; the 10 day difference between the prepared legal documents date, and the potential mailing date ...
AZ
~ LG', The Administrative Liability ($645m) IS Already Acknowledged ~
The notices have now been sent' ... JPMC, re: WaMu "serviced" mortgages, ... "SUBSTITUTION OF TRUSTEE AND DEED OF RECONVEYANCE" ...
Document is dated, June 01, 2017',
Letter is dated, August 25, 2017',
Delivered to US Residents First Class Mail', September 13, 2017',
AZ
~ So, Why Does This Silly Bickering Continue ? ~
ALL, financially generated ... "Interest Returns" ... are NOT accounted for from the point of seizure' ... the source ? ... is the the FDIC site itself' ...
The FDIC(s) ... "Balance Sheet" ... specific to WMI(s) Bank, ... WMB' as of 06/30/2017' ... Is Currently Accurate' ... within both, the proper process and sequence'
(It's obvious that only a few posters missed numerous parts of the WaMu / WMIIC / WMI / WMIH-Corp, ... Now Settled' ... Process ... ) ...
Are there any true investors left ? ... Tranche 5 Class 17' WMB Bonds' ... The WMB Noteholders are next up' ...
AZ
~ VWAP Needs To Be Right At $1.1072 My Opinion ~
AZ
~ Five Plus Years of WaMu Discouragement, Nonsence, Etc., Since 2012 ? ~
So, an obvious concerted effort to diminish the people that are left ... allowing for those remaining to gain ...
Case 08-12229-MFW Doc 12420 Filed 09/12/17
http://www.kccllc.net/wamu/document/0812229170912000000000001
~ Your Knowledge IS Your Power ~
the Liquidating Trustee shall be authorized to permanently remove such holder and its corresponding Claim and/or Trust Interest from such trustee’s books and records and any consideration held for distribution on account of such Allowed Claim shall revert to such trustee for redistribution to holders of Liquidating Trust Interests in accordance with the terms and provisions of the Plan.
~ Yep, IMO ? This $1.10 Floor Was Set ~
Yes, SET Back In 2013 / 2014' with the announcement of the Original A Preferred Rights Offering ... and submitted as the following, ...
WMIH CORP. AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
http://wmih-corp.com/wp-content/uploads/2015/05/AR-Charter.pdf
In My Own Opinion ... ? ...
Along with Many, Many Things Currently going on ? ... The A's will convert, and the $600 million, associated with the B's conversion' with be RETURNED as described' ...
AZ
~ WMIH-Corp Properly Done Old School DD' Can Be Relaxing ~
Yeppers, ... as we' all now watch & wait for ALL of the final, ... "Dual Tracking" Legal Process, ... "Settlement" ... documents to be properly submitted & recorded' ... and' ... as we' watch & wait for Class 17' to be issued their "Receivership Certificates" from the FDIC-C as documented and as attached in Judge Collyer's Opinion, so that the legal process is ABLE TO' move forward and finalize' with the necessary Class 17 "releases" as well ... (I doubt JPMC gets its $645m Admin Expense from the FDIC, which completes the P&AA without ALL of the FDIC needed releases in tact, especially from these WMB Noteholder, Class 17 guys) ...
I thought a few of us would appreciate a revisit to what our good ol' buddies, at the WMIH-Corp and KKR desk' could possibly have planned for as well' ...
So, ... just a bit of a cowboy $1.10 pps (ish') nugget while we wait ... ?
The Series A Convertible Preferreds gave the transactional rights to KKR ... (In My Opinion ? The A's WILL' Convert as Stated)
The Series B Convertible Preferreds gave the transactional rights to WMIH-Corp ... (In My Opinion ? The B's WILL NOT' Convert' and the Funding (both the used & the unused portions') are RETURNED)
So, here is a l@@k at what the new company (WMIH-Corp) says within its OWN' ... WMIH CORP. AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
http://wmih-corp.com/wp-content/uploads/2015/05/AR-Charter.pdf
7. Conversion.
(a) Holder Conversion
(A) Right to Convert. Subject to the provisions of this Section 7 of this Article V, at any time and from time to time on or after the Date of Issuance, any holder of Series A Preferred Stock shall have the right by written election to the Corporation to convert all or any portion of the outstanding Shares held by such holder into an aggregate number of shares of Common Stock as is determined by (i) dividing (x) the Per Share Price plus declared but unpaid dividends on a Share by (y) the Conversion Price in effect immediately prior to such conversion, and then (ii) multiplying the result by the number of Shares (including any fraction of a Share) to be converted. The initial conversion price per Share (the “Conversion Price”) shall be $1.10, subject to adjustment as applicable in accordance with Section 7(f) of this Article V below.
~ WMI Owns 100% Of The "Equity Value" Of WMIIC" ~
... So, ... $??,???,???,???.00 / 206,000,000 million common shares' out' ...
And Per the Original WMI' Preferred Offering' ... "Equity Value" ... IS NOT to be considered, ... debt' ...
So, ... sort of a lot more than this silly, $1.10 pps' ... that is being populated publically ...
AZ
~ Bo, Thanks' - The Truth and The Money ~
I know That's why You and I are here' ... along with Ron, Royal, Tanya, Board, Jim, and numerous others of course, ...
Yep, ... after this last Friday's submissions, ... finally, ... "Dismissed With Prejudice" ... this WaMu / WMIIC / WMI / WMB / WMIH-Corp, should be free to ?, and able to ?, now move forward ...
AZ
~ Austin, ... Greed' Can Not Be Contained ~
In My Own Opinion ? ... the movement forward on many levels will be able to be acknowledged, by the moves or by the lack of moves, of this obviously controlled new company's pps and volume' ... WMIH-Corp ...
AZ
~ Oberthal, Well ? The Way I See Things ~
Next up would be the WMB Noteholders, the Tranche 5' WMB Bonds, ... "which will have deemed to have released upon receipt of their distribution" ... and as stated ... "Receivership Certificates" to be issued by the FDIC" ... as documented ...
in my own opinion the submission and completion of those needed Class 17' Releases, are quite necessary prior to the FDIC-C, releasing the already announced Priority # 1, $645 million dollar "Administrative Expense" to JPMC, completing the P&AA ...
Just remember, ... none of us were ever expected to actually be here at this point in time, ... not to mention, those of us that are honestly trying to help ...
~ Watch Your Six ~
~ Monitor Your Brokerage Accounts ~
~ Make Sure Your Brokerage Profile Information Is Accurate ~
I still believe that the "new co" (WMIH-Corp) will be the tell' ... Any Two hedge fund participants, can not keep a secret' between themselves, let alone the large number of them involved here' ...
AZ
~ RD' ... Thank You & Yes, The Truth Is Hard To Find HERE' On These Discussion Area's ~
However, ... "it is what it is" ...
When considering "everything" from those that did not bother to recognize or acknowledge the "dual tracking" litigation ongoing in Judge Collyer's Court, ... beyond the WMIIC / WMI Approved Plan 7 Reorganization back in March of 2012' ...
To all of those upset Class 16 Piers Holders, along with the TPS ... well ? ... yeppers' there is surely enough of being upset to go around, ...
Here is some ... Truth' ... it doesn't matter at this point in time' ... NO ONE' can purchase any ownership in the original WMIIC / WMI Estate ? ... nor, ... Can any WMB Fixed Income be purchased any longer (since June 2016) ... only WMIH-Corp commons are currently able to be bought' ...
... I know why I'm here so heavily invested, and I also know exactly what I own' and why' ...
AZ
~ Is Everyone Up To Date On The Process ? ~
First, I am hoping that everyone Class' released as instructed to do, at the Approved Plan 7, back in 2012' ... Plan 7's WMIIC / WMI (s) settled reorganization' which lead to the now, WMIH-Corp ... Plan 7 was Implemented on 03/19/2012' ...
Then Let's see as the "dual tracking" litigation continued beyond WMIIC & WMI (s) POR' ... 1st' we saw Judge Collyer's Opinion submitted on 06/17/2015' and then, ... "An Announcement by the Steering Committee of Ad Hoc Committee of Washington Mutual Bank Noteholders" ...
Everyone knows who these guys are ? ... Right ? ... Yeppers' the ... "Washington Mutual Bank Noteholders" ... actually are the Plan 7' WMB Tranche 5, Class 17 Bond Holders' (the same WMB Noteholders that refused to accept a class 12 general unsecured nomenclature offered by the debtor) ... here, is a revisit back to March of 2016 when all of the completion of the dual tracking process was coming together' ...
http://www.businesswire.com/news/home/20160302006392/en/Announcement-Steering-Committee-Ad-Hoc-Committee-Washington
Between July and October 2015, a mediation (the “First Mediation”) took place between the members of the Steering Committee (“Steering Committee”) of the Ad Hoc Committee of Washington Mutual Bank (“WMB”) Senior Note Holders and certain holders (“Institutional Investors”) of residential mortgage-backed securities (“RMBS”) sponsored by WMB
3.08. The P&A Decision.
(a) Without conceding the merits of any arguments that may have been made by the Parties, the Parties agree to accept the P&A Decision as final and binding. Upon Final Court Approval, if that occurs, the FDIC-Receiver and the Trustee agree to withdraw and dismiss (without fees or costs) their appeals of the P&A Decision that are currently pending in the U.S. Court of Appeals for the D.C. Circuit (the "Appear').
3.10. Stay of All Litigation Pending Judicial Approval Proceeding; Dismissal of Actions After Effective Date. The Parties agree to jointly seek to have the Appeal stayed, and to have the current stay of the WMB Action continued, and JPMC and the FDIC will jointly seek to have the Related Actions stayed, with each such stay to remain in effect pending Final Court Approval or termination in accordance with Section 2.03, above. Upon Final Court Approval, if that occurs, the Parties will dismiss (with prejudice but without fees or costs) the WMB Action and the Related Actions.
~ RD' ... Yes, The WaMu / WMIIC / WMI / Luv ? Is Everywhere' ~
Here, check this out, ... I was preparing the following' when you posted' ... it's all good
AZ
~ So, ? How Are All' Of The WaMu / WMIH-Corp Investors Getting Along ? ~
AZ
~ Goodie, How Ya Doin ? ~
Hey, ... Thanks for that BP call in to Gus H. @ the CA Superior Court, update over here the other day' ... I appreciated that you took the time' for the update' ... I guess I made them folks running the GB derivative board, turning into the BP' just a bit nervous' ... TRUTH', usually has a way of making wrong thinking people' with nefarious intentions ... nervous' ...
Anyway, ... The Tranche 5, Class 17' WMB Bank Noteholders' ... were obviously included in the WMI II' (the WMB Action) ... Settlement' ...
Thankfully, now as revealed in the Globic Settlement (FDIC-C, / JPMC / Deutsche Bank) ... The Settlement Requirements, have now been completed' ...
So, ... in my own opinion ? ... None of these participants will wait one second longer than is necessary to receive their distribution returns' ... we' are ALL in the same bus ...
So, as Described specifically by the FDIC Claims Department in a letter written to DLA Piper, (the FDIC's Attorney Group) ... and submitted ... "in support of" ... Judge Collyer's June 17th, 2015 Opinion' ... The WMB Bank Bonds are ... "To Be Issued Receivership Certificates" ...
So ? ... Now that the Settlements are completed ? ... Yes, I am watching closely' ...
Remember, ... when the Tranche 5' Class 17 WMB Noteholders receive their "receivership certificate" ... they' will have deemed to have released (per Plan 6) ... and the process moves forward' ...
AZ
~ Hey LG' I Hope Things Are Well ~
Yeppers' ... I' do "my own" Due Diligence' when it comes to spending "my own" money on just about anything and everything, ... and when it comes to WaMu ? ... I'm 100% good to go' ...
It seems to me that arguing or constantly bantering nonsensical representations, with those that have obviously NOT' taken the time to study the WaMu Entire' process, ... The WMIIC / WMI / WMIH-Corp / WMB Issues, over these last five years' is a total waiste of productive time' ... not to mention those that have their feelings hurt so easily, or ? those that need to twist wording and / or misrepresent or disregard the relevant WaMu issues' ...
The WMB Bank Noteholders' were obviously part and parcel to the Settling Steering Committee, regarding the now completed, WMI II' (the WMB Action) ... Just think about that for a sec' ... I guess the WMB Noteholders are still around ... ? ...
WMI Investment Corp. ... ? ...
The WMB Noteholder Program ... ? ...
WMI Preferring Funding, LLC. ... ? ...
Here's the skinny' ... JPMC is not getting any part of the Priority # 1 $645 million dollar "Administrative Expense" associated with its own P&AA agreement with the FDIC, until the P&AA is done' ...
and'
The P&AA isn't ABLE' TO BE DONE' until the CIC (Change in Control) issue of WMI's Bank, WMB is completed between WMI (the parent) and the FDIC' ...
not to mention'
That the Class 17 WMB Noteholders, ... (yeppers, those are the same ones that were integral in the Globic' Settlement) ... had their releases brought forward from Plan 6 and ... "will have deemed to release upon receipt of their distribution" ... so, ... Nope' Class 17 hasn't released the FDIC quite yet' ... (I own class 17's so I can verify that as of today') ...
and,
The FDIC isn't going to release diddly, in an attempt to shut down and complete the P&AA, that IT' HAS with JPMC', ... until ALL of the releases are intact' ...
Yep, It's All Good'
AZ
~ I'm Here, So What's Up ? ~
As an Original WaMu (Jan 2006) Investor, as well as quite a serious' investor that enjoys wealth' ... as well as a participant in WaMu's, ... WMIIC / WMI / WMIH-Corp / WMB Fixed Income Investor Securities, (plus some other things') ... (yep, I'm a holder of Class 17, Class 19, and Class 22 ... my 21's Class 12' voting stock' are gone) ... I go through a series of a Broker' review of my accounts and a profile check as a daily regiment' ...
IT just doesn't appear to me that there is anyone left here' that is actually serious' ... what ? with all of the nonsense, emotion, personal attacks' and posts limiting WaMu's massive returns by one's own arrogance' ... ? ...
The OTS / FDIC seizure of a WMI' "Holding Company" (not a "Bank Holding Company") ... obviously happened, which lead to the WaMu "Dual Tracking" legal process, ...
* WMI I, which ended on 03/19/2012 with Plan 7's implementation of WMIIC / WMI(s) reorganization, giving ALL of the participants an opportunity to "Class Release" (41.6) in order to participate' ...
* WMI II, which has now been "Settled" as of August 2016' ... as we have all now witnessed the "Globic" Settlement requirements come to a completion' ...
Yeppers' ... yes, the legal process has been slow, ... but this WaMu deal ? will be, very, very, profitable to all of those that were paying attention and participated accordingly' ... it's all good ...
AZ
~ Voodoo' Let Me Ask You A Question ~
After I accepted a personal request to present regarding WaMu / WMIIC / WMI / WMIH-Corp, ... on safe' WMIH (FB) ... ? ... who was bothered ... ? ... and why ... ? ... and without the stones to do it out in the open ... ? ...
In my best suggestion, ... start with just WHO you are and have been dealing with' ... and that should help you and everyone when considering any type of a ... "Plan Of Action" ...
Regarding the $8.00 pps', 2008' offer ? ... that was a very long time ago, as well as it was also refused' ...
The Original WMI Estate is quite valuable, ... especially now, ...
AZ
~ Good, And You Are Welcome ~
Yeppers' ... actually, a pretty slick attempt' if you ask me' ... however, it's a good thing for - Us Retailers'' - that Plan 6 didn't get approved' ... those Piers Class (last creditor hybrid class) ... wanted to walk away with all of the enchilada's, at the reorganization ? and then as the eventual recipients of ALL of the ABS-Certs, Trusts' ... Billions upon Billions of Dollars worth of Cash and returning asset value' ...
the product on the shelf'
the WMB Noteholder Program
WMI Preferred Funding, LLC.
300 plus residential pooling and servicing agreements assigned to WaMu participating ABS-Certs
Private Offerings'
Commercial Lines ABS-Certs Trusts'
etc, etc, etc, ...
Yeppers' there is a bunch
Again, Plan 6 was designed for the piers holders to get everything' ...
* Offered to the holders of the PIERS claims
* $2 million minimum participation
* The Rights Offering will be subject to 1145 limitations
* The Rights Offering will commence on the date Ballots and Subscription Forms are mailed to Voting Nominees on behalf of holders of the PIERS claims; the date by which holders of Subscription Rights must elect to subscribe to the Rights Offering is defined in the Plan as the Subscription Expiration Date
* The equity in Reorganized WMI purchased through the Rights Offering will be distributed on the Effective Date or as soon as practicable thereafter
* To the extent a holder of a PIERS claims elects to exercise Subscription Rights and receives equity in Reorganized WMI, such holder’s distribution of Creditor Cash or Cash to be received on account of Liquidating Trust Interests, shall be reduced, on a dollar-for dollar
basis, by the value of the Subscription Rights exercised